There is a substantial amount of risk of loss involved in trading or investing in cryptocurrency and hence digital currency trading isn’t recommended for everyone. The cryptocurrency value and future may fluctuate to a great extent and hence a person is likely to lose more than his original investment.
History of Cryptocurrency
Cryptocurrency has a long history. It started with Bitcoin being a payment option for dark web and then suddenly it entered the mainstream world. The gains quickly attracted the eyes of traders and investors who chose to leverage the rising market and earn enormous profits
Some gained while others miserably lost, when the price of Bitcoin skyrocketed to $20000 and suddenly fell to $3000 within a year. But, what does future holds for cryptocurrency? Though there are hundreds of predictions about the position of cryptocurrencies in the coming 5 or 10 years, but they are just predictions.
Several pro traders have shown interest in cryptocurrencies and forecasted that digital currency has a very bright future in the coming years. Bitcoin along with the top tier cryptocurrencies like LTC, Dash, ETH or XRP will witness extraordinary rise and be used for transactions in the coming time. Even companies like IBM have taken steps towards it and have adopted the blockchain technology.
There are hundreds of thousands of people who are still holding the coin in the hope to see its enormous growth in the coming years. Some forecasters have come up with the verdict that Bitcoin will go as high as $50000 in the coming three years.
But the question is when is this next big move going to take place? Will it take another year? Is trading in cryptocurrency really worth it? What happened in 2017 was just a mania or will people some reasonable and good growth in the coming time? One way to know which coins to invest in and when to buy and when to sell is by using an automated trading robot such as crypto engine.
Cryptocurrency Is in Its Building Phase Today
Well at present cryptocurrency is in its building phase just like email and internet was in 1992. But over the next 5years, you will see a lot of more cryptocurrency trading taking place at platforms such as Duxa Capital. As such there will be so much demand for it. However, it is tough to make a price prediction about it.
As cryptocurrency enjoys a decentralized trading system, it doesn’t come under the regulation of any government. It will soon for used all through the world and lower the value of tender money. As a matter of fact, those who have crypto coins in their wallet, they should keep it safe and wait for the time for the coins to reach their highest potential. You never know your $100 ETH may give you 20 times in the next 5 years.
Cryptocurrency has provided a solution for those who are highly concerned about their privacy and accessibility. Around 70% of the people are likely to show interest in crypto trading in the coming two years. As of now, there isn’t much movement and people still wait for something like 2017 to show up. Till then you shouldn’t trade as you don’t know whether it is a bullish or bearish market.